Thursday, 29 September 2016

Last week it emerged
that the new Home Secretary had been involved with offshore investment funds in
the past. The report was quick to
reassure us that this was not an attempt to avoid paying tax in the UK; it was simply
that the regulatory regime at the time did not allow this type of fund to be
set up in the UK. So she was not avoiding
UK taxes, merely avoiding UK regulations.
That, apparently, makes everything OK.